Big bang
F1 concludes billion-euro deal with Louis Vuitton parent company
A financial bombshell in the premier class of motorsport: Formula 1 has signed a ten-year sponsorship agreement with the French luxury goods group LVMH! No official details have been released, but according to international business media, the deal is said to be worth around one billion US dollars ...
As LVMH announced on Wednesday, the deal includes the presence of the Louis Vuitton, Moët Hennessy and TAG Heuer brands in Formula 1. The collaboration between the world market leader in the luxury segment and the premier class of motorsport is "unprecedented", LVMH announced on Wednesday.
"A time of general enthusiasm for Formula 1"
The sponsorship agreement will take effect at the start of the next season, "at a time of incredible continued popularity and social relevance of Formula 1 and general enthusiasm for it".
On behalf of Liberty Media's Formula One owners, President Greg Maffei said that "LVMH and Formula One are two global brands that are constantly pushing the boundaries of creativity and innovation - values that are central to Liberty Media."
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